I’ve been following the thread of comments on Alan Munro’s blog about the worth of corporate sponsorship of sporting events… “And now, a word from our sponsors.” I’m with Alan here in questioning the value of such activities. I sincerely doubt anyone can come up with numbers justifying the outrageous amounts of money blown on these activities.
Let me hasten to quality that… I mean the effect this profligacy may have on consumers. As far as the Company Chairman/CEO/MD getting to play a round of golf with Tiger Woods once a year because they pay him tens of millions of the shareholders money to be featured in their pathetic ads for consulting services (Accenture), I’m sure these corporate hogs consider it money well spent. They may even hoist one with Tiger at the nineteenth hole in celebration.
My best example of this was when Carly Fiorina began her ill-fated career as CEO of Hewlett Packard a few years ago, she immediately pulled the $200,000 a year the company was using to sponsor one of the world’s premier bike races for women, deeming it a waste of resources, in spite of the fact that as it was held in the state of Idaho, home to HP’s Printer Division, it generated tremendous amounts of goodwill.
She then invested $12 million a year in the Williams Formula 1 team, which got HP the privilege of having a decal on the car, along with the other fifty sponsors. Oh, it also got her lots of trips to Grand Prix’s in exotic locations, where she could drink vintage Champaign and hang out with all the other CEO’s… Again, at the shareholders expense. So, I guess for a very small, very select group, corporate sponsorship does make sense.
George Parker
Blogging for:
Member since: 03 Jun 2008
Last login: 26 Nov 2009
Total Posts: 832
